By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/18/16 Daily Closing Analysis & Week End Review – NASDAQ Fintech Index (KFTX)
Screeching halt. Yup, really a dead stop. The KFTX index closed basically unchanged at 1050.96, up less than a point (.70) and a miniscule +0.01%. The word boring is too kind.
So, probably none of the indexes 49 stocks moved at all today, right? Well let’s just take a look at anything that moved 2 points and/or 3% today.
BOFI +.82 (23.49) +3.62%
RATE +.35 (10.55) +3.43%
SPGI -2.17 (121.80)
Well I’ll be darned, there were 3 issues that got out of bed this morning. All the others, not so much. Very mixed with 25 issues up, 23 issues down and 1 unchanged. Let’s call Friday a snooze.
For the week the fintech index had a very nice rise of exactly 2%, meaning the KFTX closed up 21.66 points to close at 1050.96. Let’s check the issues with a plus or minus 3% move on the week:
BR +3.15% (62.31)
CLGX +3.07% (38.67)
DNB +3.38% (121.87)
EFX +6.60% (121.56)
ENV +7.30% (38.20)
FDC +6.03% (15.48)
FISV +3.78% (104.29)
FLT +4.64% (150.20)
LC -3.54% (5.98) Geeeezzzzzz! The only one down on the list. Sad. (Read why here)
PAY +6.54% (17.63)
RATE +7.65% (10.55)
SEIC +4.03% (47.68)
SSNC +3.57% (32.62)
WEX +4.42% (106.45)
Now that is a very sound assessment of the week. KFTX up 2% on the week and all the issue with a 3% move were all up (oh yeah, except one). A nice broad rally and the index is only around 4 points form an all time high. Since this is a very quiet week (I think) with Thanksgiving (US Holiday) on Thursday, let’s not expect too much but probably a drift to the upside. Have a great week.